Osterweis Capital Management Inc. Purchases Shares of 71,108 SPX Technologies, Inc. $SPXC

Osterweis Capital Management Inc. purchased a new position in shares of SPX Technologies, Inc. (NYSE:SPXC) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 71,108 shares of the company’s stock, valued at approximately $17,434,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Hantz Financial Services Inc. increased its stake in SPX Technologies by 21.4% in the fourth quarter. Hantz Financial Services Inc. now owns 255 shares of the company’s stock valued at $51,000 after purchasing an additional 45 shares during the last quarter. Lido Advisors LLC grew its holdings in SPX Technologies by 1.6% in the fourth quarter. Lido Advisors LLC now owns 3,104 shares of the company’s stock valued at $586,000 after purchasing an additional 50 shares during the period. Intrust Bank NA grew its holdings in SPX Technologies by 3.6% in the fourth quarter. Intrust Bank NA now owns 1,660 shares of the company’s stock valued at $332,000 after purchasing an additional 58 shares during the period. Fifth Third Wealth Advisors LLC increased its position in SPX Technologies by 4.4% during the first quarter. Fifth Third Wealth Advisors LLC now owns 1,431 shares of the company’s stock worth $286,000 after purchasing an additional 60 shares during the last quarter. Finally, CIBC Private Wealth Group LLC increased its position in SPX Technologies by 7.1% during the fourth quarter. CIBC Private Wealth Group LLC now owns 941 shares of the company’s stock worth $188,000 after purchasing an additional 62 shares during the last quarter. Hedge funds and other institutional investors own 92.82% of the company’s stock.

SPX Technologies Stock Performance

Shares of SPXC stock opened at $201.25 on Tuesday. The company has a market cap of $10.08 billion, a P/E ratio of 36.20, a PEG ratio of 1.35 and a beta of 1.27. The business has a 50 day moving average of $220.55 and a two-hundred day moving average of $217.50. SPX Technologies, Inc. has a 52 week low of $179.62 and a 52 week high of $251.08. The company has a quick ratio of 1.21, a current ratio of 1.82 and a debt-to-equity ratio of 0.23.

SPX Technologies (NYSE:SPXC) last announced its quarterly earnings results on Thursday, July 30th. The company reported $2.02 earnings per share for the quarter, topping analysts’ consensus estimates of $1.85 by $0.17. SPX Technologies had a return on equity of 16.53% and a net margin of 11.27%.The business had revenue of $679.00 million for the quarter, compared to analysts’ expectations of $640.18 million. During the same period in the prior year, the firm earned $1.65 EPS. The business’s quarterly revenue was up 22.9% on a year-over-year basis. SPX Technologies has set its FY 2026 guidance at 8.200-8.600 EPS. As a group, analysts anticipate that SPX Technologies, Inc. will post 8.47 EPS for the current year.

Analyst Ratings Changes

SPXC has been the topic of a number of research analyst reports. Wall Street Zen upgraded shares of SPX Technologies from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. Oppenheimer restated an “outperform” rating and set a $280.00 price target (up from $272.00) on shares of SPX Technologies in a research note on Monday, July 20th. Zacks Research upgraded SPX Technologies from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 4th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of SPX Technologies in a research note on Wednesday, July 8th. Finally, Truist Financial reiterated a “buy” rating and set a $301.00 target price (up from $295.00) on shares of SPX Technologies in a report on Monday, August 3rd. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, SPX Technologies currently has a consensus rating of “Buy” and an average price target of $266.67.

SPX Technologies Company Profile

SPX Technologies (NYSE:SPXC) is a diversified global supplier of highly engineered products and solutions serving industrial, municipal, energy and utility markets. The company designs, manufactures and supports a broad range of equipment that helps customers monitor, control and manage critical processes in water distribution, power generation, HVAC, refrigeration and industrial applications.

The company’s Detection & Measurement Technologies segment offers leak detection systems, pipe and asset assessment tools, fluid flow measurement devices, gas detection equipment and related services.